Engro Corporation

Engro Corporation

The company also co-owns Sindh Engro Coal Mining Company.

Subsidiaries[edit]

As a holding company its subsidiaries include:

·         Engro Fertilizers Limited

·         Engro Foods Limited

·         Engro Eximp Private Limited

·         Engro PowerGen Limited

·         Engro Polymers and Chemicals Limited

·         Engro Vopak Limited

·         Elengy Terminal Pakistan Limited

Tarang[edit]

In 2013, Engro Corporation made six films which was the remake of six old Pakistaniclassical films under Tarang Housefull, and to honor these films Tarang Housefull Awards are created.

History[edit]

Founding days[edit]

It was 1957 when in search for oil by Pak Stanvac, an Esso/Mobil joint venture led to the discovery of the Mari Gas field near Daharki Pakistan. Esso proposed the establishment of a urea plant in that area which led to a fertilizer plant agreement signed in 1964. In the subsequent year, Esso Pakistan Fertilizer Company Limited was incorporated, with 75% of the shares owned by Esso and 25% by the general public.

The construction of a urea plant commenced at Daharki in 1966 and production began in 1968. At US $43 million with an annual production capacity of 173,000 tons, it was the single largest foreign investment by a multinational corporation in Pakistan at the time.

Esso to Exxon Limited[edit]

In 1978, it was decided to rename the company from Esso Fertilizer Company Limited to Exxon Chemical Pakistan Limited.

In 1991, Exxon decided to divest its fertilizer business on a global basis. The employees of Exxon Chemical Pakistan Limited, in partnership with leading international and local financial institutions, bought out Exxon’s 75% equity. This was at the time and perhaps still is the most successful employee buy-out in the corporate history of Pakistan. Renamed as Engro Chemical Pakistan Limited, the Company has gone from strength to strength, reflected in its consistent financial performance, growth of the core fertilizer business, and diversification into other businesses.

As Engro Chemicals (further expansions)[edit]

It was year 1997 when Engro Chemical Pakistan limited decided to establish Engro Vopak Terminal Limited on 50/50 partnership basis between Engro and Royal Vopack of Netherlands, for handling bulk liquid chemical storage at Port Qasim Karachi. In that same year Engro Asahi polymer Chemicals limited was established in a result of joint venture between Mitsubishi Corporation and Asahi for the manufacturing and marketing of PVC resin.

Recent history[edit]

Engro EXIMP was established in 2003, after which in 2005 Engro decided to diversify their business more by venturing into the food business by establishing Engro Foods Limited.

Engro also ventured into the power generation business by setting up Engro Energy Limited in 2006, which later on was renamed as "Engro Powergen Limited" in 2008. It was established with the basic aim to play Engro's part to tackle the energy crisis in the country.

In year 2007, Engro Asahi polymer divested its share in joint venture with Mitsubishi and the company renamed as Engro Polymer and Chemicals Limited.

In 2010, keeping in view the immense diversification of Engro Chemical Pakistan Limited, it was decided to rename the company as Engro Corporation as the holding company.

International Expansion[edit]

In the year 2011, Engro Corporation had a major global diversification with the acquisition of US-based company, Al Safa Halal.^[1] This new business venture comes under Engro Foods Canada Ltd and its subsidiary Engro Foods USA, LLC. Al Safa Halal targets 7 million population of Muslims in North America.